I found this fact interesting:
Quote:
Two thirds of the German shipping industry is based here and 25% of all the EU's ships are registered here.
They pay no tax on profits, no tax on the sale of ships, the crews pay no income tax, there are no rules limiting the borrowing of shipping companies...
... But now Germany is, like Captain Renault in Casablanca, "shocked, shocked" at the morality of offshore business.
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Double standards anyone?
Anyway, one good thing about this whole debacle may be that what's gone on in Cyprus sees an end to the queue of small, relatively poor countries seeking admission to the club. The Eurozone has grown too big, too fast and that fact is now undeniable.